Types of Aid

Federal Loans

The Virginia Tech Carilion School of Medicine participates in the William D. Ford Federal Direct Loan Program (Title IV). Under Title IV loans, students enrolled at Virginia Tech Carilion School of Medicine are eligible to apply for the William D. Ford Direct Unsubsidized Stafford Loan and the William D. Ford Direct Grad PLUS Loan.

Direct Unsubsidized Loan Direct Unsubsidized Loans are available to all VTCSOM students regardless of their demonstrated financial need. The Direct Unsubsidized Loan is automatically placed in an in-school deferment status for students enrolled at least half-time. Interest on the Federal Unsubsidized Loan starts accruing as soon as it has been disbursed. After graduation or once a student is no longer enrolled, Federal Direct Loan borrowers receive a six-month grace period before repayment begins. If necessary, medical residents have the option to request a Mandatory Medical Forbearance. Loan repayment will begin after graduation or once a student is no longer enrolled. If necessary, medical residents have the option to request a Mandatory Medical Forbearance. Please note, there are origination fees that are deducted from each loan disbursement. For current interest rates and loan fee information, please visit the Federal Student Aid website.

Direct Graduate PLUS Loans Direct Graduate PLUS Loans are available to all VTCSOM students regardless of their demonstrated need. Students may only borrow the Direct Graduate PLUS Loan after they have borrowed their annual maximum amount in the Direct Unsubsidized Loan. The maximum amount a student can borrow is the cost of attendance less any other financial assistance received. The Graduate PLUS Loan is automatically placed in an in-school deferment status for students enrolled at least half time, and for an additional six months after the student graduates or ceases to be enrolled half-time. Interest on the Graduate PLUS Loans starts accruing as soon as it has been disbursed. If necessary, medical residents have the option to request a Mandatory Medical Forbearance. During the online application process, a credit check is automatically performed. Students who have an adverse credit history will be required to obtain an endorser. Please note, there are origination fees that are deducted from each loan disbursement. For more information on interest rates and loan fee information, please visit the Federal Student Aid website.


Private/Alternative Loans

A Private/Alternative Loan is a loan that a student can obtain to help finance the student’s cost of attendance. VTCSOM strongly encourages all students to utilize their Federal Direct and PLUS loan borrowing eligibility before seeking a private/alternative loan. It is strongly recommend that you carefully review all the terms of each individual loan, as they can vary greatly. Private/Alternative Loan lenders require their own application, timeline, and repayment terms.


VTCSOM Endowed Scholarships

Thanks to generous donors, the Virginia Tech Carilion School of Medicine is pleased to be able to offer several privately funded scholarships.

The Sam and Priscilla McCall Endowed Scholarship offers two awards each academic year. Preference is given for students from Tazewell or Buchanan Counties in Virginia. If no students are identified from those areas, then preference is given to students who come from economically disadvantaged or low-income backgrounds.

The scholarship is made possible by the late Sam McCall and his wife, Priscilla, of Greensboro, North Carolina. Sam McCall grew up in rural Southwest Virginia, where access to medical care was limited. He attended Virginia Tech from 1954 to 1955 and had a successful career in sales. Together, he and Priscilla owned and operated a chain of gift boutiques throughout the Southeast United States.

The Morgan Dana Harrington Memorial Endowed Scholarship is given by Daniel and Gil Harrington in memory of their daughter, Morgan, who was a Virginia Tech junior majoring in elementary education when she died tragically in the fall of 2009.

First preference for the Harrington scholarship will be given to students who are members of an underrepresented population of students at the Virginia Tech Carilion School of Medicine, where Daniel Harrington is vice dean. Preference will also be given to individuals demonstrating financial need. Two scholarships are awarded each academic year.

The Daniel and Katina Carusillo Endowed Scholarship, offers two awards each academic year and is given to those with financial need. The Carusillos live in San Diego, California, where Daniel Carusillo is the director of anesthesia for the Orthopedic Surgery Center of La Jolla. The Carusillos are both graduates of Virginia Tech.

The Caroline Osborne Memorial Scholarship was established to honor the memory of Caroline Osborne, who was a member of the school’s Charter Class. In August 2010, Caroline joined 41 classmates in Roanoke, Virginia, to build on her undergraduate degree in biochemistry and begin her training to become a physician. One scholarship will be awarded each academic year to a merit worthy student.

The Charter Class Endowed Scholarship was made possible through the generosity of forty exceptional members of the charter class. This scholarship was established by the charter class to recognize deserving students who are members of underrepresented populations of students at the Virginia Tech Carilion School of Medicine. Two awards will be given each academic year.

In order to be apply for these scholarships, students must submit the FAFSA and scholarship application by the established deadline.


Virginia Tuition Assistance Grant (VTAG)

The Commonwealth of Virginia created the Virginia Tuition Assistance Grant (VTAG) as a way to assist residents who attend an accredited private, non-profit colleges and universities in Virginia. VTAG is a non-need based grant, which does not require repayment, and is available to VTCSOM students who are considered a domiciled resident of Virginia for at least one year prior to receiving VTAG. A student who has moved to Virginia for educational purposes is not considered to be a domiciled resident.

PLEASE BE ADVISED: VTAG will no longer be available to VTCSOM students after the 2017-2018 academic year.


Service Scholarships

The two types of service scholarships are the Armed Forces Health Professions Scholarship Program (HPSP) and the National Health Service Corps Scholarship Program (NHSC) through the Public Health Service. Both programs currently offer full tuition assistance, reimbursement for books and a monthly living stipend in exchange for service commitments after school and residency. Visit Medicine and the Military and/or the National Health Service Corps Scholarship website for more information.


Yellow Ribbon Benefits

Eligible students must first apply for benefits under the Post-9/11 GI Bill with the Department of Veterans Affairs. For more information about the Post-9/11 Bill and VA education benefits, please visit the website, or call 1-888-442-4551. Once a student receives their Certificate of Eligibility from the VA, they must bring the certificate to the Office of Financial Aid. VTCSOM will verify your eligibility and notify you on your total benefits and acceptance into the program.


Outside/External Scholarship Opportunities

All students are strongly encouraged to apply for outside scholarships, which can help reduce their medical school loan debt. Students are required to report receipt of all outside scholarships to the Office of Financial Aid. Please note, receipt of an outside/external scholarship can offset your total loan borrowing eligibility.